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Posted by Hazel Cottrell | 9th January, 2016 | Business Blog
What Loss Leader Can You Offer
What Loss Leader Can You Offer?
As many of you know, I am running the Sport Relief 3 mile and I have recently signed up for ‘Couch to 5k’ to help me - it’s a running training program that helps those ‘couch potatoes’ run 5k by using a 5k running program. But why am I talking about it here, on a business blog?
One reason I am talking about it is to shamelessly promote the charity event and again encourage others to get involved too, come and cheer us on or even sponsor us. However, there is another reason I am talking about it and this may be of more interest to you.
The Couch to 5k is being run by Sweatshop Peterborough, it’s free to attend and you get a loyalty card that means when you have done the run a certain amount of times you gain treats and goodies along the way. After the 8 weeks you can then continue going along and join The Sweatshop Community Running Group.
But how does this make a difference to you? Lets look at what The Sweatshop have done, they have created a group for beginner runners. It’s likely these beginner runners have beginner equipment, they won’t have the proper stuff equipment and clothes but they’ll need somewhere to go when they’re ready to get it – and where is the first place they will think of? What The Sweatshop in Peterborough are doing is building trust and a relationship with their potential audience through what is sometimes called a ‘Loss Leader’.
Here at Creative Content Company we also have a ‘Loss Leader’ in place, we run the Review Days which give small business owners a chance for a free review of their website, help with social media along with advice and guidance to improve their website and social media presence going forward. This is a free review and costs us time out of the office (one day a month) and a few coffees and possibly a cake or two…. But when the people we meet need someone to manage social media accounts as they get busier or someone asks them if they know a blog writer they will think of us.
So now it’s your turn – what ‘Loss Leader’ can you bring into your business?